Cassaday & Co Wealth Management LLC Lowers Position in RTX Co. (NYSE:RTX)

Cassaday & Co Wealth Management LLC lowered its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 29.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,262 shares of the company's stock after selling 2,968 shares during the period. Cassaday & Co Wealth Management LLC's holdings in RTX were worth $840,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the third quarter worth $29,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter worth $41,000. Modus Advisors LLC acquired a new position in RTX in the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the fourth quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC boosted its stake in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock valued at $43,000 after purchasing an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RTX. Wells Fargo & Company upped their price objective on RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and lifted their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Finally, Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $163.07.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company's stock.

RTX Trading Down 1.5 %

Shares of RTX stock traded down $1.88 during trading hours on Friday, hitting $123.23. 4,845,158 shares of the company were exchanged, compared to its average volume of 4,781,505. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The company has a 50 day simple moving average of $121.49 and a two-hundred day simple moving average of $120.89. The firm has a market cap of $164.16 billion, a P/E ratio of 34.71, a P/E/G ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX's dividend payout ratio (DPR) is presently 70.99%.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.